What are the pros and cons of the future GI Bill?

Answer 1

One of the major pro's of the new GI Bill is that your tuition to the college of your choosing will be paid in full, whereas previously one would only receive a portion (i.e. 80%). You will also receive an allowance for your books, as well as a monthly stipend that is roughly based on the cost of living for an E-5 in your area. Furthermore, members of the armed forces will no longer be required to pay into the bill to receive it's benefits.

One of the con's, from the governments perspective is the issue of retainability. The new GI Bill generates an incredible incentive for personnel to complete their enlistment and separate solely for the GI Bill benefits, as opposed to re-enlisting. From the military members perspective, many of those who paid between $1200 and $1800 to participate in the old GI Bill feel that they deserve that money back now that it is free.

Overall, it is a much better GI Bill when compared to the "old" Montgomery GI Bill. There are still some kinks to work out though. Hope this helps.